In the 1970s and 1980s, labor unions commonly negotiated wage contracts that had which guaranteed that their wages would keep up with inflation.

Cost of living adjustments

Explanation:

Cost of living adjustments could be described as a system built to seek increase benefits that affects man alongside inflation, this is done to have an upper hand against inflation. Inflation sees that prices of commodity are escalated during it's period, this would affect many individuals if there is no system to help fight for their social benefit, if this is not done the people would be really affected and won't be able to afford many product in the market. This was the measure placed during the 1970's and 1980's to help fight inflation so people are not really affected.

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